Porch Group
Facts
- HQ
- Seattle
- Sectors
- Home services, Real estate technology, Software
- Founded
- 2013 Seattle business license
- Type
- Corporation Seattle business license
- Registered name
- Porch.Com Inc Seattle business license
- Stage
- Public
- Total raised
- $6M SEC Form D filings Total of this company's SEC Form D filings
- Last round
- $4M · Apr 2022 SEC Form D
Seattle Startup Moondream Raises $4.5M Pre-Seed to Develop Edge-Friendly Vision Language Model
Seattle startup Moondream raised $4.5 million in a pre-seed round to develop a 1.6 billion-parameter vision language model capable of running on edge devices. Led by CEO Jay Allen, an AWS veteran, the company aims to integrate vision AI into various industries including transportation, retail, and manufacturing.
Seattle Marketing Executive Joanna Lord Becomes CMO at Spring Health Amid Outreach Resignation and Maveron CFO Hire
Joanna Lord, formerly a marketing leader in Seattle and New York, has joined New York-based Spring Health as chief marketing officer. Seattle's Outreach exec Amritansh Raghav resigned amid layoffs, and Maveron hired Nathan Apsel as CFO.
Seattle Tech Companies Cyemptive, Roku, Porch, and CalmWave Announce Key Executive and Board Appointments in 2024
Seattle-area tech companies made several executive and board changes, including Cyemptive appointing Ray McCay as chief revenue officer and Roku adding former Amazon exec Jeff Blackburn to its board. Other notable moves include Porch naming Alan Pickerill as lead independent director and CalmWave hiring Seth Falcon as VP of engineering.
Seattle’s Banzai to Go Public via SPAC with 7GC Holdings and Acquire Hyros for $110 Million
Seattle marketing software startup Banzai announced it will go public via a SPAC merger with 7GC Holdings and pay $110 million to acquire marketing optimization company Hyros after the deal closes. Founded in 2016, Banzai has pivoted to provide an end-to-end video engagement marketing platform and now employs 94 people.
Syndio Hires Milan Parikh as CFO; Multiple Pacific Northwest Tech Firms Announce Executive Changes
Seattle startup Syndio hired Milan Parikh as CFO, bringing his extensive finance leadership experience. Additionally, several Pacific Northwest tech firms announced key executive changes, including Porch Group, Absci, GlobalGiving, F5, Samsara, and Tozny.
Ex-Amazon VP Andrew Hamel Joins Booster as CTO Amid Multiple Pacific Northwest Tech Executive Moves
Andrew Hamel, former Amazon VP, joined mobile energy startup Booster as CTO, bringing extensive tech leadership experience. Several other Pacific Northwest tech firms also made key executive hires, including 1Password, Peek, Pie Insurance, Paymentus, and Opendoor.
Outreach names Melton Littlepage CMO and adds Stefan Schulz to board; ShelfEngine hires Kane McCord; Kaskada promotes Charna Parkey
Seattle sales enablement company Outreach (valued at $4.4B) named Melton Littlepage as CMO and added Stefan Schulz to its board; ShelfEngine hired Kane McCord as president and CRO after a $41M Series B; Kaskada promoted Charna Parkey to VP of product. The article lists several executive moves across Seattle-area startups and tech companies.
Former Rover CTO Scott Porad named Dolly’s first CTO as Dolly plans headcount, sales expansion; Regi Vengalil to become Metromile CFO in May
Scott Porad, former Rover CTO, has joined Seattle peer-to-peer moving app Dolly as its first chief technology officer as the startup plans to double headcount and sales; Regi Vengalil will leave Egencia in May to become CFO of Metromile, a pay-per-mile insurer.
Porch Group completes $100M acquisition of Homeowners of America to expand national home-insurance footprint
Porch Group completed its $100 million acquisition of Homeowners of America Inc., aiming to expand aggressively into the national home insurance market while it continues working toward profitability. The deal is Porch's largest since its 2020 IPO as the company raised 2021 revenue guidance and reported narrower net losses for 2020.
JetClosing raises $11M Series B, names former Amazon and Bulletproof exec Anna Collins as CEO
Seattle digital home-closing startup JetClosing raised an $11 million Series B led by funds advised by T. Rowe Price, Pioneer Square Labs and Trilogy Equity, bringing total funding to $44 million. The company also named former Amazon and Bulletproof executive Anna Collins as its new CEO, replacing founder Daniel Greenshields.
SPACs Let Founders Reach Public Markets Faster and Keep Larger Equity Stakes, Say Startup Observers
The article explains how SPACs (special purpose acquisition companies) let founders and early employees reach liquidity faster and often retain larger ownership stakes than through later-stage VC or private equity rounds. Using examples like Sana Biotechnology and Seattle entrepreneur Sujal Patel, it argues SPACs can preserve founders' equity by bypassing dilutive funding rounds.
Porch airs surprise 30-second Super Bowl ad in Seattle area after 2020 SPAC IPO that raised $322M
Seattle-based home-services software company Porch aired a surprise 30-second Super Bowl ad in the extended Seattle area after going public via a SPAC in late 2020, having raised over $322 million and completed multiple acquisitions while reporting a 2020 net loss of $53–55 million.
Nautilus Biotechnology to go public via Arya Sciences Acquisition Corp III SPAC, raising $350M at $900M valuation
Nautilus Biotechnology, a Seattle proteomics startup led by Sujal Patel and Parag Mallick, will go public via a SPAC merger with Arya Sciences Acquisition Corp III, raising about $350 million and valuing the company at $900 million. The deal includes a $150 million SPAC component and a $200 million PIPE, expects to close in Q2, and the combined company will trade on Nasdaq as NAUT.
Porch Group, three weeks public, buys Homeowners of America for $100M, reports $53–$55M 2020 loss and boosts 2021 revenue outlook to $170M
Three weeks after its Dec. 24 public debut via SPAC, Porch Group announced four acquisitions — including a $100 million deal for Homeowners of America — raised its 2021 revenue outlook to $170M, and reported a preliminary 2020 net loss of $53–$55M, about $20M worse than prior guidance.
Porch Group (PRCH) Raises $322M, Debuts on Nasdaq with $1B+ Valuation After SPAC Merger
Seattle-based home services technology company Porch (now Porch Group) went public via a SPAC merger and private investment, raising more than $322 million and debuting with a market value above $1 billion at $15 per share. Founder and CEO Matt Ehrlichman marked the Nasdaq opening bell on Dec. 24, 2020, and the company will trade under ticker PRCH.
Outreach CMO Margaret Arakawa departs; FlyHomes CMO Ryan Steingard joins Persona; Brian Goldfarb named Amperity CMO
Several Seattle-area marketing executives have changed roles: Margaret Arakawa left Outreach as CMO to pursue a new venture, FlyHomes CMO Ryan Steingard moved to chief growth officer at Persona, and Brian Goldfarb joined Amperity as CMO. Outreach recently raised $50 million in a Series F at a $1.33 billion valuation and serves over 4,000 companies.
Porch names five new board directors ahead of $523M SPAC merger, will trade as PRCH with Ehrlichman as CEO
Seattle-based Porch named five new directors who will join its board when the company goes public later this year via a SPAC merger valuing Porch at $523 million; the combined company will trade as PRCH with Matt Ehrlichman remaining CEO and chairman.
GeekWire: Pacific NW startups raise big rounds — Vacasa $108M, Remitly $85M, Auth0 $120M, OfferUp $120M, Outreach $50M; Qumulo hits $1B
Pacific Northwest privately-held tech startups raised large funding rounds and increased valuations during the 2020 economic crisis, with several firms hitting or exceeding $1 billion valuations and total H1 2020 investment of $2.3 billion across 135 deals.
Porch to Merge with PropTech Acquisition Corp. in SPAC Deal Valuing Company at $523M; to Trade as PRCH
Porch, a Seattle-based real estate tech and home-improvement marketplace, will go public via a SPAC merger with PropTech Acquisition Corp. at a $523 million valuation, receiving a $150 million investment and an expected $205 million cash balance while projecting revenue growth and narrowing losses.
JetClosing raises $8.5M Series B led by T. Rowe Price amid pandemic-driven surge in digital home closings
Seattle-based JetClosing raised $8.5 million in a Series B led by funds advised by T. Rowe Price as demand for its digital title and escrow closing service surges during the COVID-19 pandemic. The company reported order activity up 124% from April to July, says digital notary adoption has accelerated, and total funding is now $35 million.
SBA data: Seattle startups Rover, ExtraHop, Porch, Promethean and Logic20/20 each received $5–$10M in PPP loans
The SBA released Paycheck Protection Program data showing several Seattle-area tech startups received $5–$10 million PPP loans to help during COVID-19; recipients include Rover, ExtraHop, Porch, Promethean and Logic20/20. The program has seen controversy over eligibility and forgiveness guidance, and some venture-backed startups declined loans on ethical grounds.
Madrona hires ex-AWS product manager Anu Sharma as principal; Saykara and DomainTools add senior marketing and leadership hires
Madrona Venture Group hired Anu Sharma as a principal from AWS; Seattle startups and tech companies also announced hires and promotions, including Saykara naming Joy Efron VP of marketing and DomainTools adding four executives (CTO James Reynolds, CCO Jeff Day, VP of product Jackie Abrams, and VP of people Jill Boon).
Kandela sues Porch and CEO Matt Ehrlichman for $11.5M, alleging fraud over earnout after April 2019 acquisition
Kandela, a Los Angeles moving-concierge startup acquired by Porch in April 2019, sued Porch and CEO Matt Ehrlichman in Los Angeles County Superior Court alleging fraud and breach of contract aimed at denying Kandela its earnout, seeking $11.5 million plus punitive damages.
Knock raises $12M Series B led by Madrona as COVID-19 drives surge in remote apartment-management tool usage
Seattle rental-software startup Knock raised $12 million in a Series B led by Madrona Venture Group as demand for its apartment management tools and remote leasing features surged during the COVID-19 crisis.
U.S. VC Investments Total $34.2B in Q1 2020 as COVID-19 Threatens Decade-Long Growth
U.S. venture capitalists invested $34.2 billion across 2,298 deals in Q1 2020, slightly down from the prior year, but analysts expect investment pace and valuations to slow as COVID-19 disrupts the startup ecosystem and deal pipelines.
People
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Matt Ehrlichman Executive Officer, Director, Founder, CEO
